Sr. Director, Treasury

About the role

Reporting to the Global Treasurer (GT), the role is responsible for leading all treasury activities within the Americas (North & South America) region and directing the Americas treasury team. Additionally, the role is accountable for directing and managing the day-to-day activities related to Amcor’s capital structure, external financing, debt covenant & global SOX compliance, and key stakeholder reporting.

Key Job Accountabilities

• Capital Structure Management

• Managing Amcor’s funding activities, including equity and debt capital market issuances

• Monitoring the debt / equity funding balance consistent with a BBB/Baa2 rated company

• Funding strategy and liquidity management

• Absorbing strategic and annual operating plans to prepare a funding plan analysis to support Amcor’s objectives (leverage, debt/equity mix, liquidity needs, interest expense)

• Working with the Regional Treasury Directors to ensure adequate liquidity is available to fund Amcor’s working capital needs, while ensuring that Amcor’s day-to-day liquidity levels are maintained at optimal levels by managing Amcor’s USD and EUR commercial paper programs

• Working capital and CAPEX management

• Closely manage borrowings with goal of maintaining compliance with financial covenants

• Led the global coordination and reporting on Amcor’s supply chain finance, customer supply chain finance, and inventory finance facilities

• Working with the BGs and corporate accounting to ensure all working capital programs are in compliance with Amcor’s policies

• Leading the development of appropriate interest rate policies and interest rate expense management strategies

• Working with the Regional Treasury Directors on the implementation of the interest expense management strategy

• Ensuring net interest expense is reported in a timely manner and continuously develop methods to improve analysis

• Effectively adjusting Amcor’s interest rate exposure profile through the use of synthetic products such as FRA’s, interest rate swaps, options and futures

• Overseeing return of capital and share trust activities

• Evaluating the funding requirements for Amcor’s share-trust, including designing and implementing strategies on how to best fund (on-market purchases, equity hedges, etc)

• Coordinating with Treasurer EMEA/APAC on ensuring that quarterly dividend funding in in place

• Treasury financial reporting

• Overseeing the creation and distribution of the Global Treasury monthly management report (MMR) and routine board presentations (5x / year)

• Preparing ad hoc board presentations on treasury matters (DCM, Financing, Share Trust, Dividend, Repurchases, etc)

• Preparing/reviewing all financial statement disclosures for quarterly and full year accounts around treasury and financial risks (SEC reporting)

• Interface with internal and external auditors on treasury matters

• Preparation of relevant reporting for debt and credit facilities on financial covenants

• Leading the coordination of the Global Treasury SOX compliance, testing & reporting

• Rating Agency management

• Aiding the GT with managing relationship with credit rating agencies

• Developing model to track and forecast rating agency metrics

• Leading team efforts, alongside Investor Relations (IR) team on preparing quarterly earnings update and periodic updates on the company’s liquidity profile for the Ratings Agencies

• Working with the GT and IR on proactively addressing rating agency questions about the outlook for the business and Amcor’s credit metrics

• Regional Financing

• Assessing and recommending inter-company loan structures (including corporate loans, regional, in-country, intra-Business Group structures)

• Negotiating/organizing appropriate external short- and long-term facilities with banks (ex: working capital lines, overdraft facilities, revolver and term funding and others)

• Cash and cash pool management

• Create the strategy for an efficient bank account and cash pool setup for the Americas region

• Manage and optimise the number of bank accounts across both regions and their setup

• Setup, maintain and optimise the regionals cash pool arrangements

• Develop regional cash repatriation strategy in consultation with the BGs

• Liquidity management and short-term funding

• Setup, maintain and optimise regional credit lines. Use bilateral, overdraft or synthetic facilities in addition to syndicated facilities to increase flexibility and/or lower interest expense

• Cash concentration efforts within the region to minimize non-pooled cash and offer the main platform and flexibility as a hub for Amcor to pool/fund globally

• Maintain the substantial intercompany loan positions with the region

• Repatriation and Americas capital structure

• Together with Tax team, address specific capital structure requirements within the Americas region to optimise the outcome: e.g. equity injections in high interest rate environments, capital reductions to free up unused capacity, minority shareholder negotiations, long term loan qualifications, etc

• Financial Risk management

• Establish FX risk management strategy for Americas exposures. This includes hedging operational exposures, intercompany loans as well as cash balances

• Drive usage of FX risk management systems and tools across the region (Reval, FXall, and transitioning to Kyriba)

• Oversee risk management activities executed by the Americas’ treasury team

• Working capital initiatives & trade finance

• Setup, maintain and enhance approved supply side financing programs

• Setup, maintain and enhance approved reverse factoring programs

• Setup, maintain and enhance guarantee and letters of credit facilities

• Advising and supporting special programs as needed (sale and lease back, hire purchase, a/r sales programs, etc.)

• Supporting global reporting requirements from the region for SCF and CSCF programs

• Global Treasury related activities

• Support GT on group wide requirements in areas such as:

• Optimising global cash balances

• Global repatriation plan and coordination of the underlying transactions throughout the year

• Preparation of treasury related board papers (as required).

• Treasury contribution to Amcor’s financial reporting requirements. Eg. consolidated treasury SRP, analysis and reporting for certain financial notes, etc.

• Global Treasury audit and compliance (internal and external)

• Ensure external compliance requirements for treasury (Dodd Frank, FBAR, etc.)

• Own the global relationship for the Treasury Management System (Reval) and drive optimization of the system’s adoption and usage across Amcor

• Bank relationship management

• Lead and optimize the transactional banking structure in each country, with pooling/netting capability if possible for each BG and BU

• Assess, direct and coordinate business to Amcor relationship banks where appropriate and beneficial for each Business Group (especially within Latin America)

• Engage with global procurement to ensure efficient contract negotiations (ex: corporate cards)

• Systems and infrastructure

• Variety of banking software solutions and interfaces. Includes user access and in some cases administrator responsibilities

• Treasury management system and interfaces (currently Reval, transitioning to Kyriba)

• Trading system and interfaces (Reuters/FXall with ancillary interfaces)

• Managing Diversity/directing Others

• Lead, manage, guide and develop the Americas treasury team as a group of highly specialised and highly-motivated individuals who like to win and work as a team

• Specific (regional and/or global) projects and M&A transactions

• Cash pools

• Repatriation schemes

• M&A treasury support (acquisition, divestment, venture, etc.)

• Internal loan restructuring

Qualifications/Requirements

• Bachelors degree in Accounting, Finance or related field. Minimum of 10 years of treasury experience
• Professional certification such as CTP or CPACFA preferred
• PREFERRED: Fully Bilingual, English and Spanish; Portuguese is a plus
• Master’s degree in Business Administration or related field, preferred
• Business Acumen